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Diasoft Opened the Center of Excellence for IT Security of Its Software Solutions

Tuesday, May 23, 2017

Diasoft, the leading provider of modern software solutions for the global financial industry, announced that it has opened the Center of Excellence that focuses on information security of its Diasoft FA# and FLEXTERA suites. Diasoft's initiatives in the information security sphere will allow banks to protect their IT systems from cyberattacks that become increasingly frequent these days and meet requirements of regulatory authorities.

The main goal of Diasoft's IT Security Department is to improve protection of the information circuit of banks that use the company's software products and to mitigate the risk of hacking or fraudulent usage of these products within the bank. The main attention is paid to detection of hidden risks and development of individual recommendations for each customer.

Diasoft's software products contain pre-integrated technologies that are capable to support the required security level. Nevertheless, it is important to ensure effective usage of these tools, taking into account peculiarities of specific business processes of each individual bank. To support these requirements, specialists of the new business of Diasoft use the whole range of modern tools and approaches, including certification of implemented components, the thoroughly designed scheme of authorization and multi-factor authentication of system users, control of user actions, prediction of consequences of their unauthorized operations, protection against fraudulent orders, administrative procedures and practices, and many others.

Based on market trends, regulatory requirements and customer needs, Diasoft will continue to add new technologies to its portfolio of information security solutions. Recently, Diasoft's security experts arranged a meeting with the company's customers to discuss Diasoft's plans for development of information security of its Diasoft FA# and FLEXTERA products. A great number of attendees of the meeting confirmed the highest importance of issues associated with security of Diasoft's software products and proved the need to arrange similar events on a regular basis.

Igor Legezin, Head of the IT Security Department at Diasoft, commented, "The main question asked by our customers is how additional security measures will influence performance of IT systems of banks, since such enhancements will be made in the existing production environment. These risks are eliminated by the individual approach. For each customer, we develop an individual scheme that takes into account peculiarities of business processes of a specific bank. Timely detection of risks and creation of the threat model will lead to the more predictable business and more secure cash flow".

About Diasoft:Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.

The FLEXTERA’s functional scope covers the following areas of financial business:

Back Office and Core Banking operations including daily banking transactions processing; product and service management; BI, accounting and reporting;

Multichannel Front Office operations and client management;

Middle Office risk management and decision making.

The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and clients’ requirements.

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